Emperador H1 revenue jumps 11% on ‘stellar’ whisky performance

PHILIPPINE liquor giant Emperador reported its revenue climbed 11 per cent to 31 billion pesos (S$742 million) in the first half of this year from a year ago, as its global whisky segment continued to perform.

In a bourse filing on Friday (Aug 11), the company that is dual listed on the Philippine Stock Exchange and the Singapore Exchange said the whisky segment showed a “stellar performance”, while its brandy segment also demonstrated some growth – despite facing inflationary headwinds.

It said that growth in the whisky segment was driven by Emperador’s whisky portfolio, which continued to grow at double-digit rates in the first six months of 2023. Key markets recording these strong double-digit growth rates were Asia and the United States.

Emperador president Winston Co pointed out that the single malt whisky portfolio was behind the strong performance. It “continues to be among the fastest-growing single malts in the world”, he noted.

While revenues were up, the group however said recurring profit to parent was relatively flat at 4.7 billion pesos, versus 4.8 billion pesos recorded in H1 2022.

The group, meanwhile, gave an update that an expansion of the whisky maturation complex at Invergordon Distillery in Scotland is underway, and this is set to double its footprint from 45.4 hectares to 92 hectares. 

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“This will create the space for additional warehouses to be built over the coming decades, eventually housing more maturing whiskies, in support of the long-term growth ambition for Emperador’s global whisky business.”

Emperador owns an iconic brandy portfolio led by Emperador Brandy, the world’s largest-selling brandy by volume. It also owns Whyte and Mackay, the world’s fifth-largest Scotch whisky producer.

The counter closed flat at S$0.515 on Friday.